Datassential has received a significant growth investment from Spectrum Equity

Datassential, the leading provider of data, intelligence and market research to the foodservice industry, has received a significant growth investment from Spectrum Equity, a leading growth equity firm investing in the information economy.

Datassential, headquartered in Chicago and with offices in Los Angeles, is a leading provider of information and analysis to the food industry. The company provides a suite of subscription-based solutions and market research that help the food industry make and sell better products, including menu trends, consumer rating scores, LTO updates (limited time offer), trend analysis, food reports and sales tools. Clients utilize Datassential to inform their strategies for platform development, line extensions, customer acquisition, relationship management, equity measurement, positioning development and customer loyalty. The company’s SaaS platform is sold on a subscription basis to more than 200 foodservice companies. Datassential is in the early stages of leveraging its capabilities to enter the CPG and alcohol markets. It recently launched a new product with significant growth potential, a personalized food recommendation tool called Haiku.

Spectrum Equity is a leading growth equity firm providing capital and strategic support to innovative Internet, software and information services companies. For 25 years, the firm has partnered with high growth companies across the information economy. Spectrum Equity is currently investing the firm’s eighth fund with US$1.25 billion in capital.

Oaklins' team in Los Angeles advised the seller in this transaction.